Highwoods Properties (NYSE:HIW) Issues Quarterly Earnings Results

Highwoods Properties (NYSE:HIW) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.74), Yahoo Finance reports. The firm had revenue of $204.30 million during the quarter, compared to the consensus estimate of $204.96 million. Highwoods Properties had a net margin of 18.30% and a return on equity of 6.33%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the business earned $0.93 EPS. Highwoods Properties updated its FY24 guidance to $3.59-3.63 EPS and its FY 2024 guidance to 3.590-3.630 EPS.

Highwoods Properties Trading Up 2.2 %

Shares of Highwoods Properties stock traded up $0.79 during mid-day trading on Wednesday, hitting $36.38. The stock had a trading volume of 133,524 shares, compared to its average volume of 978,106. The firm has a 50-day moving average of $32.83 and a two-hundred day moving average of $28.90. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.34. Highwoods Properties has a 12-month low of $17.06 and a 12-month high of $36.55. The firm has a market cap of $3.86 billion, a P/E ratio of 29.16 and a beta of 1.26.

Highwoods Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.00 annualized dividend and a yield of 5.50%. Highwoods Properties’s dividend payout ratio (DPR) is presently 163.93%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on HIW shares. Wells Fargo & Company raised their price objective on Highwoods Properties from $22.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Truist Financial increased their target price on shares of Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Robert W. Baird raised their price objective on Highwoods Properties from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft cut shares of Highwoods Properties from a “buy” rating to a “hold” rating and boosted their price target for the company from $31.00 to $35.00 in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $28.50.

Highwoods Properties Company Profile

Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW), fully-integrated office real estate investment trust (REIT) that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa.